Borneo Aqua's new gold plant starts commercial operation

In a filing with Bursa Malaysia today, the marine fish trader and breeder company said the gold processing plant has also commenced its gold production commercially.

Bahvest said it will make the appropriate monthly production announcement in due course.

The company ventured into the gold mining business in Sabah through the purchase of a gold mining company, Wullersdorf Resources Sdn Bhd (WRSB), for RM131 million back in 2015.

Last year, Bahvest managing director Datuk Lo Fui Ming told The Edge Financial Daily the group expected to see the full impact from the gold mining business in the financial year ending March 31, 2019 (FY19).

WRSB had obtained a 33-year sublease to set up a gold mining operation on a 317.7ha plot in Bukit Mantri, Tawau, Sabah, from Southsea Gold Sdn Bhd. The plot is part of a 1,000ha land that Southsea had secured mining rights to for a period of 35 years — from Jan 1, 2014, to Dec 31, 2048 — from the Sabah government.

At the midday break, Bahvest was flat at RM1.30 with 325,600 shares done.